S&P/ASX 200 Index (ASX: XJO) uranium stock Boss Energy Ltd (ASX: BOE) is off to the races today.
Boss Energy shares closed yesterday at $2.23. In morning trade on Thursday, they surged to $2.60, up 16.6%. After some likely profit-taking, shares are changing hands for $2.52 apiece at the time of writing, up 13.0%.
For some context, the ASX 200 is up 4.9% at this same time, following a huge day of gains in US markets after President Donald Trump stepped back from his global tariff campaign.
Boss shares look to be catching some additional tailwinds amid the company's presentation at the Resources Rising Stars conference today. Which will come as unwelcome news to the host of short sellers betting against the stock.
Here's what's happening.
Investors are bidding up the ASX 200 uranium stock after Boss reported on strong production and sales results from its South Australian Honeymoon project for the quarter ending 31 March.
Over the three months, Boss reported 246,869 pounds of ion exchange (IX) uranium production, up 15% from the December quarter. And the 295,819 pounds of U3O8 that Boss drummed in the March quarter was up 116%.
Management noted that the U3O8 drummed over the quarter exceeded IX production, with some of the inventory accumulated in previous quarters processed through the drying and packing stage over the three months.
Despite some commissioning challenges with its kiln and baghouse, which form a part of the drying and packing stage, the ASX 200 uranium stock achieved record production in February.
The record 123,188 pounds of U3O8 drummed during the month equates to an annualised run-rate of around 1.5 million pounds.
The company said it remains on track to deliver 850,000 pounds of U3O8 drummed for the financial year ended 30 June 2025 (FY 2025).
Commenting on the strong quarterly results helping to boost the ASX 200 uranium stock today, Boss managing director Duncan Craib said, "Strong uranium production from the Honeymoon operation was delivered during the quarter."
Craib added:
This totalled 295.8k pounds drums produced, representing a 116% increase from the prior quarter. The operation ramp-up is continuing to plan as we look forward to meeting our guidance of 850,000 lbs for year to June 30.
We also achieved strong sales of product during the quarter of 268,000 lbs of uranium at an average sales price of US$84 per pound, which has generated US$$22.4 million of cash.
As at 31 March, Boss had a uranium inventory on hand of 1.12 million pounds.
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